Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,948 Shares

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $222.72, for a total value of $1,770,178.56. Following the transaction, the chief executive officer now directly owns 317,920 shares in the company, valued at approximately $70,807,142.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Michael Cannon-Brookes also recently made the following trade(s):

• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.56, for a total value of $1,530,466.88.
• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.64, for a total value of $1,499,310.72.
• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.75, for a total value of $1,508,133.00.
• On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.56, for a total value of $1,498,674.88.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.18, for a total value of $1,527,446.64.
• On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.16, for a total value of $1,527,287.68.
• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $193.70, for a total value of $1,539,527.60.
• On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $187.54, for a total value of $1,490,567.92.
• On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $176.27, for a total value of $1,400,993.96.
• On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.81, for a total value of $1,270,169.88.

Atlassian Trading Down 2.4 %

Atlassian stock opened at $218.96 on Tuesday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The business’s fifty day simple moving average is $174.38 and its two-hundred day simple moving average is $171.31. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $56.94 billion, a price-to-earnings ratio of -144.05 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The company’s revenue was up 21.5% on a year-over-year basis. As a group, equities analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TEAM. Robert W. Baird lifted their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective on the stock in a research report on Thursday, July 11th. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a research report on Friday. Raymond James lifted their price target on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Scotiabank lifted their price target on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.16.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Asset Dedication LLC raised its stake in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Trust Co. of Vermont increased its position in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian during the second quarter valued at $36,000. GAMMA Investing LLC increased its position in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Atlassian during the first quarter valued at $40,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.